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Tech Industry

TheStreet.com trims losses in 2Q

    Online financial information provider TheStreet.com Inc. (Nasdaq: TSCM) reported a loss of $6.8 million, or 38 cents a share, on sales of $3.3 million.

    Its shares closed up 2 3/8 to 31 3/4 ahead of the earnings report.

    First Call consensus expected TheStreet.com to lose 37 cents a share in the quarter.

    Excluding charges related to executive compensation, it lost $6.2 million, or 30 cents a share.

    On the bright side, the $3.3 million in sales represents a 192 percent jump versus the year-ago quarter when it lost $4.7 million, or 61 cents a share, on sales of $1.1 million.

    In the quarter, advertising sales jumped to $1.7 million, a 197 percent improvement compared to the year-ago quarter when it recorded sales of $586,000.

    Subscription sales grew to $934,000, a 108 percent gain versus the $448,000 it recorded in the same period last year. At the end of June, TheStreet.com had a subscription base of 66,000 users.

    As far as traffic is concerned, TheStreet.com said it averaged 1 million unique visitors in the quarter, up from 661,000 in the first quarter.

    "We are very proud of the growth in revenue for the quarter," said CEO Kevin English in a prepared release. "We are encouraged about continued strong growth in both advertising sales and our subscriber base."

    After its initial public offering in May, TheStreet.com shares soared to an all-time high of 71 1/4. The stock hit a low of 25 1/16 in June.

    All three analysts following the stock rate it a "buy."